Acme Steel Rejects Inquiry On Buyout

December 29, 1988

Acme Steel Co., of south suburban Riverdale, said Wednesday it rejected a buyout inquiry from two investment firms considering a $24.75-a-share proposal. The inquiry was made by Heine Securities Corp. of Short Hills, N.J., which holds a 9 percent stake in Acme, and Wyvern Partners, of New York.